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The USD is rebounding from a 15 month low, GBP is weakening pressured by warning from Fitch that the UK credit rating is most at risk, UK economic data continues to show improvement with report of better retail sales and higher house prices, EUR drops as German Zew index posts…

Intraday bias in GBP/USD remains neutral for the moment. Retreat from 1.6841 might extend further to 4 hours 55 EMA (now at 1.6544). But downside should be contained above 1.6465 support and bring another rise. Above 1.6481 will target 1.7043 medium term resistance next. However, break of 1.6465 will indicate…

Dollar continues to stay in tight range today as European stocks consolidates while US stocks are set to open slightly lower. There is no sign of reversal in the greenback yet as Gold pares earlier loss and is back above 1100 level after brief retreat. Crude oil is also back…

In the overnight Asian session, and the start of European trade, stocks were holding higher, while the most widely traded pair, Eur/Usd is still consolidating around the psychological 1.5000 area. A break of this level, and a possible move through the 1.5062 yearly top depends on S&P futures momentum holding…

In truth be told, investors and the U.S citizens remain worried robustly over the outlook of the world’s largest economy and the stock markets, as on one hand overall earnings posted by huge known American Corporations are cheerful and better-than forecasted, while on the other hand the present economic conjuncture…

Overall, the dollar index strengthened throughout the Asian session, but as the market headed towards the European open, the dollar gave up to most of its gains. The pair most affected by the selling was the pound, which plunged 150 pips from the Asian session open. Right now, the currency…

Sterling  just took a huge hit on comments made by Fitch hinting at the possible downgrade of UK’s AAA status. The rating agency also stated that Germay was the least likely of European nations to face a downgrade. Gbp/Usd tumbled down over 125 points to 1.6608. Eur/Gbp has also had a severe move, now trading above .9000, currently at .9015.

Cable has risen from a low of 1.6601 during the day and is inching towards a Short term important Resistance at 1.6740-50. If this barrier is breached, we may see the pair rise once again towards 1.6850 over the next couple of sessions. There might however be some pullback towards…

* Times listed are GMT